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Market Chatter: South Korea Manufacturing Confidence Rebounds for June

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South Korea's manufacturing sentiment rebounded for June for the first time in three months, supported by strong optimism in the semiconductor sector despite the ongoing tensions in the Middle East, Yonhap News reported Tuesday, citing the Korea Institute for Industrial Economics & Trade.

The professional survey index (PSI) for the manufacturing sector's business outlook increased to 107 in June from 95 in May. The PSI outlook had remained below the 100 mark for April and May before returning above 100 for June, the report said.

A PSI reading above 100 indicates optimists outnumbering pessimists, while a reading below 100 signals the opposite.

Confidence improved across the display, automobile, machinery, and bio-health sectors, while confidence in the shipbuilding and steel sectors declined to 100 and 122 for next month, respectively. Confidence in the mobile phone and textile sectors remained below the threshold at 80 and 93, respectively, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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